At long last, PayPal is now officially available in Kenya for usage without the worry of getting deactivated . Paypal, which has 137 million users, in 193 countries, has been in Africa for three years in a partnership with FNB (SA), and Kenya’s Equity Bank becomes their second partner in Africa. The service is already active in Kenya for local merchants such as freelance contractors and tourism sites to use on their websites to accept secure global payments.
At the launch, the Equity Bank CEO said that there were possibly 100,000 users in Kenya with PayPal accounts, but who could not withdraw their money, until now. One needs to have a debit or credit card that allows online transactions to use and to withdraw cash from PayPal which will be done through a customer’s account at Equity Bank - and this may take a few days, and attracts a 1.5% fee on top of PayPal’s charges. For now, one can’t move money from a bank account to PayPal, but only use cards to send money.